UK Labour Market Stats

purch

There has been so much effort put in by successive Governments over the last 20+ years to make the headline numbers look better than they are in reality, it has become difficult not to try to look for the flaws in the data.

The Labour numbers are positive and have been for quite some time, that will translate into higher wage levels in time, the real surprise is that it hasn't already.

I think public perceptions have helped employers, especially at the lower end keep wages low.

mwpt

HAMISH_MCTAVISH wrote: »

Around 2% above inflation...

Guessing that's pretty close to historical averages.

Yup. Not stellar but ok. Dipped again recently and my guess is lower growth by end of 2016. I don't see the external pressures easing.

mwpt

Generali wrote: »

Yes it is ultimately. There is sometimes a short term break either up or down but ultimately it reverts to trend.

Sure. But we're down against the trend since 2008. I expect that to continue to happen. Western employees are overpaid vs the rest of the world and vs robots.

Mistermeaner

Generali wrote: »

How would you define the BS job? We might be able to see from ASHE data for example.

I was thinking along the lines of those self employed nail bars and cup cake makers that 'seem' to be everywhere. Facebook businesses I call them.

I know of a few of the mums at school who work as 'child minders' looking after each others kids, collecting the free money given to the other for child care and claiming working tax credits as a result. That needs fixing in my view.

There is also a large pool out of the stats; some of these will be economically independent but there is an awful lot of I fear for whom not working is a lifestyle choice funded by the tax paper - doesn't mean that the jobs figures aren't going up but these people are 'unemplyed' in the sense they don't have a job they just dont claim JSA (because they get enough free money already)

Anecdotes I know - not data; I'm wondering if there is data about the above?

Generali

mwpt wrote: »

Sure. But we're down against the trend since 2008. I expect that to continue to happen. Western employees are overpaid vs the rest of the world and vs robots.

I don't think they are once you factor in productivity.

The fact is that a British worker can produce more than a Chinese worker on average in an hour.

The Zombie Robot Apocalypse remains on course obvs.

Generali

purch wrote: »

There has been so much effort put in by successive Governments over the last 20+ years to make the headline numbers look better than they are in reality, it has become difficult not to try to look for the flaws in the data.

The Labour numbers are positive and have been for quite some time, that will translate into higher wage levels in time, the real surprise is that it hasn't already.

I think public perceptions have helped employers, especially at the lower end keep wages low.

The labour market seems to be at the point where employees can say, "Eff you, pay me more or I'm off". It's hard to see how unemployment can get much lower without some pretty serious wage pressures building on employers.

purch

Mistermeaner wrote: »

Facebook businesses I call them.

People can sit in their bedrooms and make a good living just blogging their opinions.

The world is changing, and the way we collect and report Labour stats hasn't changed anywhere near quickly enough.

Generali

purch wrote: »

People can sit in their bedrooms and make a good living just blogging their opinions.

The world is changing, and the way we collect and report Labour stats hasn't changed anywhere near quickly enough.

http://jezebel.com/heres-how-much-celebrities-make-in-the-instagram-produc-1740632946

CKhalvashi

mwpt wrote: »

Yup. Not stellar but ok. Dipped again recently and my guess is lower growth by end of 2016. I don't see the external pressures easing.

Although with the push that the govt and some banks are giving towards export, it could get better.

The only issue is the exchange rates aren't historically brilliant, but certainly doable.

CLAPTON

Mistermeaner wrote: »

I was thinking along the lines of those self employed nail bars and cup cake makers that 'seem' to be everywhere. Facebook businesses I call them.

I know of a few of the mums at school who work as 'child minders' looking after each others kids, collecting the free money given to the other for child care and claiming working tax credits as a result. That needs fixing in my view.

There is also a large pool out of the stats; some of these will be economically independent but there is an awful lot of I fear for whom not working is a lifestyle choice funded by the tax paper - doesn't mean that the jobs figures aren't going up but these people are 'unemplyed' in the sense they don't have a job they just dont claim JSA (because they get enough free money already)

Anecdotes I know - not data; I'm wondering if there is data about the above?

well that's an interesting point

clearly child care is a real job, else none of us would be here.

clearly the measure called GDP is a false god but very much worshipped even by those that say they know better.
Swapping kids to claim benefits may or may not be desirable depending upon how much you value children.

Personally I am in favour of mother hood and I also like apple pie (although I do limit the intake for health reasons)